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NetLease
07-14-2008, 10:38 AM
Does anyone hold or list any Starbucks properties that are closing? Starbucks announced they are closing close to 600 stores last week.
wchua24
07-14-2008, 01:08 PM
i never heard that yet.. so what is the main reason of closing down 600 stores last week? thats this involve lack of marketing? or something?
NetLease
07-14-2008, 03:32 PM
Starbucks expansion strategy was flawed. Most of their issues are new stores in terciary markets. The stores were sucking wind. In the end, the remaining stores will be standing strong. It might be good that SBUX is buying out the dogs now, b/c the owners will get cash in hand that will enable the owners to find other tenants now.

This is a much better situation than waiting 10 years for the lease to mature and SBUX walking and leaving you holding the bag.
wchua24
07-15-2008, 05:20 AM
Starbucks expansion strategy was flawed. Most of their issues are new stores in terciary markets. The stores were sucking wind. In the end, the remaining stores will be standing strong. It might be good that SBUX is buying out the dogs now, b/c the owners will get cash in hand that will enable the owners to find other tenants now.

This is a much better situation than waiting 10 years for the lease to mature and SBUX walking and leaving you holding the bag.

ah i get it now thanks for explaining it to me..im an building admin last year of a certain establishment and starbucks is our client to i wonder if it still there..
rainier
07-24-2008, 06:20 AM
well I never heard of that news though that will be a big news are they open for selling?
BigWill
07-28-2008, 12:49 AM
Someone told me that they are about to close a couple of shops and lay off workers but not exactly where.
abhelle15
08-28-2008, 10:08 PM
Layoffing workers is sure is a hard thing to do:(
NetLease
09-02-2008, 06:06 PM
well I never heard of that news though that will be a big news are they open for selling?


The company selling? Or the stores selling? There are plenty of stores still for sale...ones that are still open and ones that have been shuttered.

I wrote an article about it on my blog (http://positivecashflowrealestate.blogspot.com/2008/07/fallout-from-starbucks-announcement-of.html) if interested. The list of stores has been out for a while. If anyone has Starbucks as a tenant, you can refer them to this message board (http://www.starbucksproperties.com/). We just finished this site today and have been getting the word out to the owners that they can discuss their situations here, perhaps commiserate on legal issues and/or find a replacement tenant.